Newcastle Building Society is set to increase its mortgage Standard Variable Rate (SVR).
Effective from 1st April 2023, the Society’s SVR for affected properties in England, Scotland, Wales and Northern Ireland will increase by 0.28% from 4.91% to 5.19%.
This increase reflects a change in market conditions and lending costs.
The change will affect residential, self-build and buy-to-let customers with products linked to the lender’s SVR.
Customers with any queries or concerns about their mortgage repayments should contact the Society via email, telephone or by visiting their local branch.
Customers affected by the SVR rise will receive a letter notifying them of the new rate and their revised monthly payment.
Customers with fixed rate products will move to the SVR when their current product term ends if a new product has not been arranged.
